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Lexus ES 350 Lease Questions

812 messages,  Last post on May 09, 2013 at 6:14 AM

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What is this discussion about? Lexus ES 350, Car Leasing, Car Buying, Sedan

Messages Page 65 of 82

#636 of 812 Re: ES350 lease deal [lexusfan2011] by Car_man HOST

Sep 12, 2011 (5:34 pm)

Replying to: lexusfan2011 (Sep 07, 2011 4:28 am)
Hi lexusfan2011. The money factor that you were quoted appears to be a little on the high side. I believe that Lexus Financial Services' current buy rate for the 2011 ES 350 is around .00115 for consumers who qualify for its top aka "Tier 1+" credit tier. Try to get the dealer to use the buy rate to calculate your car's payment.
 
As far as the selling price that you were quoted goes, there's a spread of around $3,500 or so between this car's full MSRP and dealer invoice price. That's pretty close to the discount that you were quoted, making this a very good deal.
 
The $700 acquisition fee that you mentioned is correct. The doc fee will vary from dealer to dealer, but $145 is not outrageous...provided that the car's selling price is attractive other than that, which it is.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#637 of 812 Re: ES350 lease deal [Car_man] by lexusfan2011

Sep 12, 2011 (7:13 pm)

Replying to: Car_man (Sep 12, 2011 5:34 pm)
Thanks carman. Unfortunately I needed to do the deal by sep 6 to get tax credit and 1000 loyalty. Maybe next time I'll check with u in advance. Picked up the car today after signing on 9/6. So far I love it. Thanks for ur advice.

#638 of 812 October MF & Res? by randomjohn

Sep 27, 2011 (11:20 am)

Hi, CarMan - I've moved over from the Infiniti G forum. Went for a test drive and found it a little cramped. (I'm still considering the M, though, b/c my company has a VPP which gets me $1200 off Inf's invoice price)
 
Do you have current or October money factors and residuals for the ES350, no options, 36 months, at 10k and 12k? Much obliged.

#639 of 812 Wow what happened to residuals? by randomjohn

Oct 05, 2011 (11:55 am)

From what I gathered from the board here, last month residuals on the 2011 ES were in the high 50s. I finally got a quote from my dealer on the October plan:
 
Lease-end value (I assume Lexus's term for residual) were
53% 10k
52% 12k
50% 15k
 
Money factor was relatively nice at 0.00095
 
The car was
MSRP $40310 (the heated seats package plus some other minor junk)
Sale price $37000
 
Doc fees are a little high at $422.94.
With CT sales tax, monthly payment at 10k miles is $520.88
 
I think there's a little more value to be found in the sale price and doc fee. Hopefully another $500 total.
 
But what's up with that residual? Did they just fall off the cliff because of the impending arrival of the 2012s? Or is the dealer messing with me?
 
What's the likelihood that the 2012 residual will be enough higher to make up for the interest rate jacking I'm sure they'll also do?

#640 of 812 Re: October MF & Res? [randomjohn] by Car_man HOST

Oct 06, 2011 (4:23 pm)

Replying to: randomjohn (Sep 27, 2011 11:20 am)
I sure do randomjohn. Lexus Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2011 ES 350 with 12,000 miles per year are .00095 and 52%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
 
The residual value for a lease with only 10,000 miles per year would be 1% higher.
 
When negotiating your deal on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on it.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#641 of 812 Re: October MF & Res? [Car_man] by randomjohn

Oct 07, 2011 (7:00 am)

Replying to: Car_man (Oct 06, 2011 4:23 pm)
Thanks, car_man. How strict are dealerships with the cash incentives? My wife has a tricked-out swagger wagon from the same dealer, but my current car wouldn't otherwise qualify me for the incentive. Is it really a bright-line for the dealers, that if they can't show Lexus what the buyer owns they can't get the cash? Can I just say "sure, I have one of those" even if it's not what I'm trading in?

#642 of 812 what to pay by snowman22

Oct 10, 2011 (7:13 am)

OK--I'm new to this whole forum thing. So I'll get right to the point. I'm looking to lease a leftover 2011 ES 350. MSRP is $40,000. My problem is at what purchase price should the lease payment be based on. My way of thinking would be--the car is already one year old-should not the price and lease monthly reflect this. I go to our one and only lexus dealer and they act as though this is the new model year. It's a leftover for crying out loud. They still want $3000 down plus other fee's that total out to over $5000. On a 2011 model?????????? So could someone set me straight on this whole thing. Am I wrong to think my lease buying experience should be a whole lot better than what the dealer is offering. This is a beautiful car--but I don't think they are flying off the dealers showroom floor at this point. What would be the right amount up front "if anything"be and what would be a fair monthly. Orrrrrrrrrrrrrrrrrrr should I wait another month or so.Thanks for any insight.

#643 of 812 Re: October MF & Res? [randomjohn] by Car_man HOST

Oct 10, 2011 (4:39 pm)

Replying to: randomjohn (Oct 07, 2011 7:00 am)
Hi randomjohn. I'm pretty sure that Lexus is fairly strict about who it allows to get its conquest and loyalty cash. I suspect that it requires a copy of the registration as proof of ownership.
 
Having said that, there is a $1,000 dealer cash incentive for everyone on this model on top of the loyalty / conquest offers.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#644 of 812 Re: what to pay [snowman22] by Car_man HOST

Oct 10, 2011 (4:44 pm)

Replying to: snowman22 (Oct 10, 2011 7:13 am)
Hi snowman22. If I was in the market for a 2011 ES 350 right now, I personally would shoot for a selling price of around $500 over invoice minus the $1,000 dealer cash that is currently available on it and the $1,000 loyalty / conquest cash that is available on it if you qualify for it. You can look up this car's invoice price over in the New Vehicle Pricing section of Edmunds.com.
 
You definitely should not pay $5,000 at signing to lease any vehicle. Consumers can and should put as little money down as possible when leasing. This means not making any capitalized cost reduction. Consumers who make large down payments on leases risk losing part or all of the money that they laid out if their vehicle is totaled in an accident or stolen and never recovered.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#645 of 812 snowman22 by snowman22

Oct 11, 2011 (6:21 am)

Thank you Car Man. Let me expand on my question. I shoud have entered this info the first time.I believe this lease offer is a factory backed lease. The monthly is $399 with $2800 down plus $700 finance fee "whatever thats for" plus security and tax/tag and a couple other things. I agree about no money down but--you would think the dealer would put a better deal out than what is being offered. The car is a year old. It's only worth trade in wise--$32,000 if i'm lucky.I think $399 with tax and tag should be the norm. What do you think the chances are of something like this in the next few months. I'm not in a hurry so time's on my side.

Messages Page 65 of 82

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